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First Solar Vaults 12%: Raises Year Outlook as Prices ‘Firm Up’

Shares of solar-energy technology provider First Solar (FSLR) are up $5.39, or 12%, at $50.20, after the stock was briefly halted, just before it reported Q2 revenue that easily topped analysts' expectations, and profit well above consensus, in part because of a one-time tax benefit, and raised its outlook for this year.

The company also raised its gross profit margin outlook for this year, citing rising prices that are to an extent offsetting price declines for older product.

During a conference call this evening, CEO Mark Widmar told analysts that “pricing has firmed up in the U.S.” for solar panel “modules,’ the components that make up the panels.

"Again, there is a tremendous amount of demand right...